topic Re: question about cli in Credit Cards

question about cli

Anonymous — Wed, 25 Sep 2013 09:49:12 GMT

i have a couple new tradelines that upon activating, the rep(s) told me that i would be eligible within x amount of months (discover it and chase military star) for a limit increase. i have no desire to use these cards but welcome the clis (strictly utilization purposes) with open arms. does it matter if i use or dont use the cards for the specified times to initiate a cli (auto or hard)?

Re: question about cli

azguy13 — Wed, 25 Sep 2013 09:52:05 GMT

It is hard to say really. Chase is big on HP CLIs. There is much speculation on how to get an auto CLI from them and most of the suggestionsa re putting a lot of money through them. Discover seems to be a lot nicer lately with CLIs.

What other cards do you have?

Re: question about cli

Anonymous — Wed, 25 Sep 2013 10:10:08 GMT

thanks for the reply. i actually have a few cards. but the discover and the chase are my "primes". if i could i rather just leave them be and let them report zero balances. after all doesnt zero balances look better to a lender than having balances? even though i pay almost everything i spend every month, im not good in paying a lump sum here, letting small balances report then paying off the rest after it reports. i pay everything in the beginning of the month and just let it report as it is, then when next month comes along again ill repeat. i hope that made sense cause it did in my head! lol.

i copied amd pasted this from my creditboard sig since its kinda lengthy lol

NFCU Cash #1: 15000, NFCU Cash #2: 15000, USAA Plat: 10000, USAA AMEX: 10000, Local CU #1: 7500, Militarystar: 4700, Chase Militarystar: 4700, Local CU #2: 3000, Zales: 2700 Discover IT: 1500, GE Amazon: 1400, GE Walmart: 1400, Target: 500, GE Dillards: 300
NFCU LOC: 15000, Local CU LOC: 3000

Re: question about cli

azguy13 — Wed, 25 Sep 2013 10:26:00 GMT

Those are good cards. Out of curiosity, why did you not just request a CLI on those and save yourself the hit to your AAoA?

Re: question about cli

lg8302ch — Wed, 25 Sep 2013 10:39:04 GMT

For me Discover is a pain in terms of CL. Lowest starting limit as well. The card and customer service is top I love my card but need to pif several times a month not to report maxed out card. While Discover will not move my 2,5K limit to 5K I just hit the luv botton on Amex and got 25K with same profile (got both cards 9 months ago)... I wish you all the best with a Discover CLI. Chase is famous for HP CLI and might even do multiple pulls on EX, EQ or TU.

Re: question about cli

azguy13 — Wed, 25 Sep 2013 10:45:47 GMT

@lg8302ch wrote:
For me Discover is a pain in terms of CL. Lowest starting limit as well. The card and customer service is top I love my card but need to pif several times a month not to report maxed out card. While Discover will not move my 2,5K limit to 5K I just hit the luv botton on Amex and got 25K with same profile (got both cards 9 months ago)... I wish you all the best with a Discover CLI. Chase is famous for HP CLI and might even do multiple pulls on EX, EQ or TU.

This is why I am really hoping for an auto CLI before the holidays get into full swing. I have the chas to back everything up, I just love the rewards of the CSP and hate having to PIF multiple times a month to avoid reporting a high uti (high uti on the card, not overall uti)

Re: question about cli

lg8302ch — Wed, 25 Sep 2013 10:56:42 GMT

yep... my Freedom is at 77% but my fault. I paid and payment posted the same day as statement cut but too late. Curious to see what a ding this will be on a single card nearly maxed out. Overall util is less than 5%... we will see. Glad I have no intention to apply for anything until 2014 (CSP last on my wishlist) and like this I can experiment a bit with my reportings

Re: question about cli

azguy13 — Wed, 25 Sep 2013 10:59:47 GMT

@lg8302ch wrote:
yep... my Freedom is at 77% but my fault. I paid and payment posted the same day as statement cut but too late. Curious to see what a ding this will be on a single card nearly maxed out. Overall util is less than 5%... we will see. Glad I have no intention to apply for anything until 2014 (CSP last on my wishlist) and like this I can experiment a bit with my reportings

I also do not plan on applying for any cards anytime soon. My plan is to keep the number of cards I have as the max amount I get. I will just focus on growing these cards. The Slate isnt really doing anything for me so I may replace it later on when I find an AMEX that I can use. Or maybe Discover. I started a thread yesterday about which cards people are going to use during the holidays and Discover was mentioned a lot. Either way, I am waiting over a year for anything new.

Re: question about cli

Anonymous — Wed, 25 Sep 2013 11:00:56 GMT

azguy: originally when i activated the discover card, i did ask for an initial cli but the rep told me to wait 3 months (december) then i would be eligible for a cli. i took it as the law cause i was treading on new territory. i think thats the reason why im kinda apprehensive on using those two cards. the limit is not high enough to be useful but at the the same time its a prime bank. if i could i rather just not use it, let it report the zero balances for the next couple months, then see if i can get those clis. my other cards are all pretty much zero balanced as well, except zales and amazon because of special financing.

a bit of side info: since im in with them, do you think inquiries will still matter on hard pull clis? i have 60 inqs on each of my bureaus. lol

Re: question about cli

azguy13 — Wed, 25 Sep 2013 11:06:39 GMT

@Anonymous wrote:
azguy: originally when i activated the discover card, i did ask for an initial cli but the rep told me to wait 3 months (december) then i would be eligible for a cli. i took it as the law cause i was treading on new territory. i think thats the reason why im kinda apprehensive on using those two cards. the limit is not high enough to be useful but at the the same time its a prime bank. if i could i rather just not use it, let it report the zero balances for the next couple months, then see if i can get those clis. my other cards are all pretty much zero balanced as well, except zales and amazon because of special financing.

a bit of side info: since im in with them, do you think inquiries will still matter on hard pull clis? i have 60 inqs on each of my bureaus. lol

You meant 6.0, right? lol

How did you end up with 60 HPs in 2 years? Luckily, they only factor into you CS for 1 year but it looks pretty bad under manual review. I am not sure what they will think of your inq's during a CLI request because truthfully, I have never seen that many before. You could be the first to find out for us though!

Did you buy a few cars in the last year to get that many inqs?

Re: question about cli

lg8302ch — Wed, 25 Sep 2013 11:11:14 GMT

@azguy13 wrote:
@lg8302ch wrote:
yep... my Freedom is at 77% but my fault. I paid and payment posted the same day as statement cut but too late. Curious to see what a ding this will be on a single card nearly maxed out. Overall util is less than 5%... we will see. Glad I have no intention to apply for anything until 2014 (CSP last on my wishlist) and like this I can experiment a bit with my reportings
I also do not plan on applying for any cards anytime soon. My plan is to keep the number of cards I have as the max amount I get. I will just focus on growing these cards. The Slate isnt really doing anything for me so I may replace it later on when I find an AMEX that I can use. Or maybe Discover. I started a thread yesterday about which cards people are going to use during the holidays and Discover was mentioned a lot. Either way, I am waiting over a year for anything new.

Yes for me OCT - DEC will be for sure Discover. I mainly shop online that is why the CL hurts me so much. But I have started to live with it and need to multiple pay the card every month. It can be done but it is not very convenient..LOL

Re: question about cli

azguy13 — Wed, 25 Sep 2013 11:15:18 GMT

I never want to run more than 50% my CL on a single card. If I had a higher limit on the CSP, I would use it for just about everything. Right now I only use it for everyday purchases. Since I do not want to go about $2,500 on it, all my larger purchases are used on my NFCU due to the high CL and the extra protection of the Siggy.

I am extremely tempted to move my $4K CL on the slate over to the CSP and then just close the slate.

Re: question about cli

Anonymous — Wed, 25 Sep 2013 11:22:09 GMT

azguy: unfortunately, i was not joking about the inquiries . i have a mortgage that i just recently got at the end of last year and three auto loans right now. it seems like A LOT is going on but its all quite manageable for me. the main thing is my tradelines is i make sure everything is taken cared of. since there is so many account and a million different due dates, i kinda stick to paying EVERYTHING in the beginning of the month so i know for myself it was taken cared of. if i had to nit-pick and pay this here and pay this there, i would get consumed easily lol.

Re: question about cli

azguy13 — Wed, 25 Sep 2013 11:28:26 GMT

@Anonymous wrote:
azguy: unfortunately, i was not joking about the inquiries . i have a mortgage that i just recently got at the end of last year and three auto loans right now. it seems like A LOT is going on but its all quite manageable for me. the main thing is my tradelines is i make sure everything is taken cared of. since there is so many account and a million different due dates, i kinda stick to paying EVERYTHING in the beginning of the month so i know for myself it was taken cared of. if i had to nit-pick and pay this here and pay this there, i would get consumed easily lol.

I feel that Inq's do not reflect a person's credit management. Just as you said, you have multile auto loans and a mortgage. I know when I apply for an auto loan I will get pre-approved through someone and thentell the dealership to beat it. That results in about 10 Inqs per vehicle. I just went through my builder for the mortgage and they later sold it to BofA.

Luckily, after the first few inqs it doesnt really affect your score anymore. Plus, they all age off the report in 2 years anways with them only effecting your score for the first year.